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You are here: Home / Mortgages / Buy to Let Mortgage / Buy to Let Mortgages until your 90 and No proof of income is required

by Payam Azadi

Buy to Let Mortgages until your 90 and No proof of income is required

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“Saving rates are at an all-time low and unlikely to improve in the near future. So if you seek income to supplement your pension why not turn to investing in property?”

Fact: inflation has recently grown ahead of saving rates. Therefore if you are relying on deposits as a source of income you will have noticed that you cannot even buy as many basic household commodities as you could a few years ago. The pound just isn’t stretching and in reality your savings aren’t working for you. In ‘real terms’ keeping your money in the building society is actually costing you money. What’s worse is it is likely to continue until at least the next election.

Property investment has often been viewed as a medium to long term strategy, with most revenue derived from the eventual sale. However, in recent times, at Niche Advice, we have seen a sharp rise in applicants in their retirement looking to invest in property to provide a solution to much needed income.

With careful research it is conceivable to realise six to eight percent annual returns on property which is obviously far greater than deposits, and typically more immediate and dependable than the volatile equities markets.

Generally, the mortgage market has been slow to react to this new breed of purchaser. However as you come to expect from Niche we already have solutions for mortgages up to 90 years of age in place. We have numerous lenders that will take pension and annuity income when assessing a mortgage due to its guaranteed nature but we also have mortgage solutions for applicants who are earning an income but it is difficult to prove or is irregular. In fact the pivotal underwriting point is the expected rental income and how it can ‘self service’ the loan, and this is not typically a barrier at all as you would not choose a lower yielding property as the point is increase your income!

And don’t forget that the mortgage interest can be offset against the rental income, which allow could be worth 20% or 40% to you.

How do get started. Normally you need a deposit of at least twenty-five percent and an astute Mortgage Advisor, such as Niche Advice, to bring the proposition to fruition.

To find out more about this or another Buy to let Mortgage, please call us on 020 7993 2044 or alternatively complete the simple enquiry form on the top right hand side of this page..

Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.

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Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

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Filed Under: Buy to Let Mortgage Tagged With: buy to let for pensioners, buy to let just on rental income, Buy to Let Mortgages until your 90, mortgage advisors for pensioners, mortgage for retired people, no minimum income for buy to let, property investment no income proof, retirement buy to let mortgages

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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Click here for our fees structure. A full detailed fee plan will accompany all our quotes.

Niche Advice Limited has a commercial arrangement under an affiliate programme with Check My File and is remunerated for referrals.

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If you wish to register a complaint, please write to us on the details below or call us on: 020 7993 2044.

Correspondence Address: Niche, Unit F6, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG.

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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Tel: 020 7993 2044

Registered Office: Niche, Unit F3, The Addington Business Centre, Vulcan Way, New Addington, Surrey CR0 9UG. Registered in England & Wales. Company registration number: 06599033.

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